Second-Party Opinion Download

Sustainalytics is of the opinion that the Willhem Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2021. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds – Green Buildings, Renewable Energy, Clean Transportation and Energy Efficiency – are aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible categories will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7, 9 and 11.

PROJECT EVALUATION AND SELECTION

Willhem has established a Green Finance Committee which will be responsible for evaluating and selecting projects in line with the Framework’s eligibility criteria. The Green Finance Committee convenes at least annually and consists of members from the finance and sustainability departments. Regarding environmental and social risks associated with eligible projects, the committee will leverage Willhem’s sustainability policy and code of conduct to monitor and mitigate sustainability-related risks associated with the projects. This is in line with market practice.

MANAGEMENT OF PROCEEDS

Willhem’s Green Finance Committee will be responsible for the management of proceeds and will track their allocation in a green register using a portfolio approach. The Company intends to allocate proceeds within 36 months of each issuance. Pending full allocation, unallocated proceeds will be held in Willhem’s bank account. This is in line with market practice.

REPORTING

Willhem will report on allocation of proceeds and the corresponding impacts in a Green Bond Investor Report, which will be published on its website on an annual basis until the proceeds have been fully allocated. Allocation reporting will include a description of the allocated projects and outstanding green bonds, total nominal amounts outstanding, share of new financing and refinancing, proportion of net proceeds allocated per category and the geographical distribution. Sustainalytics views Willhem’s allocation and impact reporting as aligned with market practice.